Purchasing Foreclosures, REO, and Short Sales

Distressed property consists of foreclosures, short sales, and REO Property (Real Estate Owned by the Lender):

Short Sales: In Florida offers are contingent upon the sellerâ€™s bank agreeing to the sale. This happens because the price of your offer is less than the full mortgage amount that the bank is owed. In fact, what makes Florida short sales unusual is that sometimes a seller will take competing offers, submit each one to the bank, and only one offer will be approved. The Shrayer Law Firm can assist you in getting the best deal possible.

Short Sales: In Florida offers are contingent upon the sellerâ€™s bank agreeing to the sale. This happens because the price of your offer is less than the full mortgage amount that the bank is owed. In fact, what makes Florida short sales unusual is that sometimes a seller will take competing offers, submit each one to the bank, and only one offer will be approved. The Shrayer Law Firm can assist you in getting the best deal possible.

REO Property: These properties areÂ encumbered with title issues and lien issues. The bank is going to sell the property â€œas is,â€ so it is incumbent upon the buyer to do its proper due diligence prior to closing. Possible issues include: mold, chinese drywall, liens, open construction permits, delinquent HOA dues, etc.

Contact the Shrayer Law Firm today to best assess how you can be assisted in processing the purchase or sale of a distressed property.